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Wednesday, April 2, 2014

Recruiting: The #1 Mistake Beginner Agents Make



The biggest mistake an agent can make when starting in real estate is to lose track of their budget. Always have an eye on when and where you are spending your money. Evaluate what you're spending it on and make sure to find out what you're getting in return. If there isn't a valuable return - get rid of it.

However, your budget is only as good as where it's being spent. The average realtor sells 8 homes a year and spends $104 a month on advertising. Last January, I sold 7 homes. It depends on how much you want to invest in your business and how successful you want to be. You should spend anywhere between $500-$1,000 a month on advertising alone to get your name out there.

Friday, March 28, 2014

Attention Sellers: The Market Needs Your Home – Sell Quickly and for More Money!



 There are many great West Lawn area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (610) 670-5900 for a FREE home buying or selling consultation to answer any of your real estate questions.
 
I’ve never done this before, but I wanted to ask a favor – my team has over 60 preapproved buyers that we are working with in order to find them homes. However with the current state of the market, the inventory is extremely low and the inventory that we have available is of low quality.

So, I am asking if you or anyone you know is looking to sell their home within the next 3-6 months, please give me a call or shoot me an email. It would be greatly appreciated – it is a great time to sell your home and the spring market is going to very busy. Prices will also be rising and the time a home spends on the market will be dropping!

Please, if you or someone you know is looking to sell their home, please contact me. Thanks and have a great day.
 

Monday, March 24, 2014

Mistakes to Avoid When Generating Leads



There are many great West Lawn area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (610) 670-5900 for a FREE home buying or selling consultation to answer any of your real estate questions.

Is there anything you wish you could go back and do differently?
I probably would have tackled going after more listings in the beginning rather than going after the 'all-holy' buyer.

Why does everyone start on buyer leads when it makes no sense?
I don't know. I really don't know. Looking back at it, it's the most expensive form of lead generation. But I think it might be the quick dollar, because you have willing and able buyers who are willing to purchase immediately. I think that is one of the main draws to it, but when you look at it, listings get you buyers. 

How profitable is the buyer side, after paying all the money for leads, hiring the ISA, and paying the buyer commission?
It's horrible. If you don't have your systems in place to handle it, you're going to be drowning. Now that I have systems in place, the ROI is pretty good. I mean, we're averaging about 4-5 sales off of the lead generation coming in every month. 

And these systems are nothing more than...?
The back end systems of the lead generation systems, as well as google calendar, google mail, and also Infusionsoft, which should be working soon...which would be our contact management system.

Wednesday, February 5, 2014

The top recruiting mistakes when setting up a team


There are many great West Lawn area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (610) 670-5900 for a FREE home buying or selling consultation to answer any of your real estate questions.

What are some failures and mistakes that we should be looking for?
As you become more and more active in the real estate industry, especially online, you’ll start to receive a lot of requests for new products, new software programs, advertising avenues etc. Before engaging in any of that make sure to do your homework. Make calls, ask people what their experiences are before you spend any money on new leads. Do lots of research.

What advice do you have about managing buyer leads?
One thing that my team and I failed at first was not following up with the agents we had passed along new buyer leads to. I was inundated with so many buyer leads at first yet had put our entire team in place that we had to pass them to other agents in exchange for a referral fee. The lack of follow-up resulted in a miserable return on investment because those leads were not called within five minutes of the lead coming in. So we fired them all and I started tackling about 300-400 leads per month, by myself. That’s when I became fairly strung out and I decided that I can’t do this by myself anymore and so I decided to recruit a team of buyer’s agents.

Have there been hiring mistakes in your own experience of setting up a team of buyer’s agents?
The only real mistake was that we hired average or mediocre agents. The better formula was to recruit brand new agents and teach them from scratch. A great example is an agent that came from heating and air conditioning industry. They had no sales experience and after passing the state exam he just shadowed me. I put him on the phones almost immediately. I had him making calls before he was even licensed and we did that as a concierge approach. And he would listen to me on the phone; the phone was on speaker so he would listen to my interaction with clients and systematically I was creating another “me”.

What other good and/or bad experiences or failures do you have to share?
I wish I would have followed the book “Millionaire Real Estate Agent” and I think the reason is that I probably needed an agent to handle all the buyer leads that were coming in. Another failure that I would have liked to do better was hire an admin first so that there was someone handling all the back-end things.

What is your team structure now?
At this point we have just hired an admin but until this week I was acting as my own admin, we have myself, a buyer’s agent plus an inside sales agent. The admin we hired is a licensed agent coming from a top builder. The Inside Sales Representative’s sole responsibility is to process all incoming leads, make all back-end sales calls and then set appointments for our buyer’s agents. I take all the listings with the eventual goal of bringing on board a seller’s agent.

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Stay tuned for more episodes of these informational and very useful video blog posts from Kyle Miller where he shares his best tips on how YOU can do business better!